Rick Snyder
Rick Snyder | |
|---|---|
 | |
| Born | August 19, 1958 |
| Citizenship | United States |
| Alma mater | University of Michigan |
| Occupation(s) | Businessperson, Venture Capitalist |
| Political party | Republican |
| Spouse | Wife: Sue |
| Children | Son: Jeff Daughters: Melissa, Kelsey |
| Website | www.rickformichigan.com |
Richard D. (Rick) Snyder (born August 19, 1958) is CEO, Chair of the Board and co-founder of Ardesta LLC, a high tech venture capital firm located in Ann Arbor, Michigan. Rick previously served as CEO and Chairman of Gateway, Inc. On July 21, 2009, Rick Snyder announced he is running for Governor of Michigan in the 2010 election.[1] On September 24, 2009, William Clay Ford, chairman of the board of directors of Ford Motor Company, endorsed Rick on Paul W. Smith's morning radio program on WJR in Detroit. Ford will also serve as a senior campaign counselor.[2]
Background and Education
Rick was born in Battle Creek, Michigan. Rick studied at the University of Michigan, where he earned a Bachelor of General Studies degree with high distinction in 1977, a Masters of Business Administration at the University of Michigan’s Ross School of Business with distinction in 1979, and a Juris Doctor in 1982. He completed his third degree at age 23. Rick also served as an adjunct assistant professor of accounting at the University of Michigan. He resides in Ann Arbor, Michigan with his wife Sue and their three children, and has a home near Gun Lake, Michigan.[3] [4]
2010 Gubernatorial Race
Snyder joins Mike Bouchard, the Oakland County Sheriff and former state senator, state Sen. Tom George, Congressman Peter Hoekstra and Michigan Attorney General Mike Cox as 2010 Republican gubernatorial candidates.
The finance director for Snyder's campaign is Lauren Rakolta, the daughter of John and Terry Rakolta and previously a major figure with the Mitt Romney campaign in her own right.
Career
Rick was employed with Coopers & Lybrand (now PricewaterhouseCoopers), from 1982 – 1991, beginning in the tax department of the Detroit office. Rick was named partner in 1988. In 1989, Rick was named partner-in-charge of the mergers and acquisitions practice in their Chicago office.[5]
During his tenure at Gateway, Rick served in many capacities. He joined Gateway in 1991 as the Executive Vice President and was named President and COO in January 1996, a position he held until leaving the company as an employee in August 1997.[6]
While he was with Gateway, the company grew from a private, $600 million business to a public player in the PC industry with more than $6 billion in revenues. Credit for the turnaround of Gateway has been attributed to Wayne R. Inouye, the chief executive who later resigned, after which Snyder became temporary chief executive of the company.[7]
In 1997, Rick returned to Ann Arbor, Michigan to found Avalon Investments Inc., a venture-capital company with a $100 million fund. Rick was President and CEO of Avalon Investment from 1997-2000. Avalon invested in 24 technology-oriented startup companies. After a successful capital raise of $103 million, Rick co-founded Ardesta in 2000, becoming Chairman and CEO of one of the nation’s largest investment firms focused on micro and nanotechnology. Ardesta has eight companies spread across Michigan and the United States developing small technology products in fields ranging from life-science to clean tech. and communications.[8] Between Avalon and Ardesta Rick has created 420 jobs in Michigan and 1,253 nationwide.[9]
From 2005 to 2007, Rick served as the non-executive Chairman of the Board of Gateway. During 2006, Rick served as interim CEO while a search for a permanent replacement was made. Rick’s tenure on the board of Gateway ran from 1991 to 2007.
Ardesta LLC was founded by Rick and three co-founders in 2000 and has invested in 20 start-up companies to date.
Rick also serves on the boards of the Henry Ford museum, Michigan chapter of the Nature Conservancy and several boards tied to the University of Michigan.
References
- ^ "B.C. native Rick Snyder announces run for governor". Associated Press. July 21, 2009.
- ^ "Ford chairman backs Snyder for governor". Detroit Free Press. Sept. 24, 2009.
{{cite web}}: Check date values in:|date=(help) - ^ "Ann Arbor businessman Explores Run for Governor". Detroit News. March 19, 2009.
- ^ "Ex-Gateway Computers CEO Offers Advice to Entrepreneurs". Grand Rapids Press. May 6, 2009.
- ^ "Venture Capitalist Rick Snyder Exploring Governor's Race". Associated Press. March 20, 2009.
- ^ "Gateway CEO Steps Down". InternetNews. February 9, 2006.
- ^ "Gateway Chief Out; Chairman Steps In". New York Times.
- ^ "Who will succeed Epolito? The Speculation Begins". Crain's Detroit Business. January 18, 2009.
- ^ "Rick Can Carry a Tune". The Ann Arbor Chronicle. July 16, 2009.